09.06.2022, 11:02
The Owner of Jack Daniel's and Finlandia Brand Loses $52 Million Due to the Withdrawal from the Russian Market
Source: OREANDA-NEWS
OREANDA-NEWS The American maker of alcoholic beverages Brown-Forman reported a loss of $52 million for the fourth quarter of fiscal year 2022 due to the suspension of activities in Russia. This was reported on the company's website.
They also added that the forecast for the brand Finlandia was worsened by the withdrawal from the Russian market, which was the main sales channel for the brand.
On March 9 the American company Brown-Forman, the owner of the whiskey brand Jack Daniel's and Finlandia vodka, announced on Twitter the suspension of activities in Russia.
In early April, the press service of Rosalkogolregulirovanie said that there was no shortage of whiskey and cognac in Russia. The agency added that the deficit of strong alcoholic beverages in the country will not occur in the future, as the companies are ready to increase production volumes in case of demand.
They also added that the forecast for the brand Finlandia was worsened by the withdrawal from the Russian market, which was the main sales channel for the brand.
On March 9 the American company Brown-Forman, the owner of the whiskey brand Jack Daniel's and Finlandia vodka, announced on Twitter the suspension of activities in Russia.
In early April, the press service of Rosalkogolregulirovanie said that there was no shortage of whiskey and cognac in Russia. The agency added that the deficit of strong alcoholic beverages in the country will not occur in the future, as the companies are ready to increase production volumes in case of demand.
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